Sectoral Fiscal Multipliers and Budget Inflexibility: The Role of Allocative Inefficiency
| dc.audience | Researchers | eng |
| dc.audience | Students | eng |
| dc.audience | Teachers | eng |
| dc.contributor.institucion | Universidad de la Sabana | spa |
| dc.coverage.ciudad | Bogotá | spa |
| dc.creator | Gomez-Gonzalez, Jose Eduardo | spa |
| dc.creator | Valencia, Oscar | spa |
| dc.creator | Herrera, David | spa |
| dc.creator | Zapata, Steven | spa |
| dc.date.accessioned | 2020-07-03T21:01:17Z | spa |
| dc.date.available | 2020-07-03T21:01:17Z | spa |
| dc.date.created | 2020-07-03 | spa |
| dc.description.abstract | This paper studies fiscal multipliers in Colombia, an emerging economy with a high degree of inflexibility of expenditure at the sectoral level. The results show that the multiplier is almost twice as large in sectors in which the execution of flexible expenditure is favored over inflexible expenditure. This result is closely related to the fact that flexible expenditure is done in capital intensive sectors. Microsimulation estimations show that the reallocation of a 1% from inflexible to flexible spending has a positive effect of approximately 17% on the total fiscal multiplier. We provide empirical evidence of an inverted U-shaped fiscal multiplier on the reallocation effect across sectors. | eng |
| dc.format.extent | 20 páginas | spa |
| dc.format.mimetype | spa | |
| dc.identifier.uri | https://repositorio.redinvestigadores.org/handle/Riec/79 | spa |
| dc.language.iso | eng | eng |
| dc.relation.ispartof | Documentos de Trabajo | spa |
| dc.relation.number | No. 59 | spa |
| dc.relation.repec | https://ideas.repec.org/p/rie/riecdt/59.html | spa |
| dc.rights.accessRights | Open Access | eng |
| dc.rights.cc | Atribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0 | spa |
| dc.rights.spa | Acceso abierto | spa |
| dc.rights.uri | https://creativecommons.org/licenses/by-nc-sa/4.0/ | eng |
| dc.subject.jel | E62 - Fiscal Policy | eng |
| dc.subject.jel | O23 - Fiscal and Monetary Policy in Development | eng |
| dc.subject.keyword | Fiscal multipliers | eng |
| dc.subject.keyword | Spending reallocation | eng |
| dc.subject.keyword | Economías emergentes -- Colombia | eng |
| dc.subject.keyword | Colombia | eng |
| dc.subject.lemb | Economías emergentes -- Colombia | spa |
| dc.subject.lemb | Política fiscal -- Multiplicador fiscal -- Colombia | spa |
| dc.title | Sectoral Fiscal Multipliers and Budget Inflexibility: The Role of Allocative Inefficiency | eng |
| dc.type | Working paper | eng |
| dc.type.hasversion | Published Version | spa |
| dc.type.spa | Documentos de Trabajo | spa |
